Paco Jemez has ended speculation surrounding his future by finally signing a new two-year contract at Rayo Vallecano.

The Coach has drawn admirers this season for leading the Madrid minnows to the verge of European qualification despite the club having the smallest budget in the League and this being Jemez’ debut term in the top flight.

With his previous deal expiring at the end of the season, Jemez entered into negotiations for a renewal in mid-March.

Despite reports indicating that an agreement was outlined very early on, delays hit talks and prompted rumours of a move in the summer to Malaga.

However, on from the belief that this was out of the club waiting for approval on the financial terms from their administrators, Rayo have confirmed that the 43-year-old has put pen to paper on a two-year deal through to June 2015.